171 4th Ave - Apartments FOR SALE


Chula Vista, CA 91910- North Chula Vista
$11,000,000 USD
858-245-5848
171 4th Ave, Chula Vista, CA for Sale
$11,000,000 USD
Apartments - FOR SALE
1/13
null | 8% Cap Rate

171 4th Ave
Chula Vista, CA 91910
North Chula Vista


HIGHLIGHTS

  • Huge Upside in Rents
  • Excellent Location
  • Value-Add Opportunity

OVERVIEW

Cushman & Wakefield is pleased to present the Pacific Pointe Independent Living Community.  Pacific Pointe is a 111-unit senior housing community located less than 1 mile North of Scripps Mercy Hospital in the city of Chula Vista, California. This offering provides an opportunity to acquire a fee simple interest in a stabilized asset free and clear of debt encumbrances, in one of the highest demand senior rental submarkets in the San Diego area. Built in 1974, the property was completely renovated in 2009 and consists of 111 studio apartments with approximately 350 Square feet each. There are no known income-related restrictions currently in place, allowing this asset to have significant rental demand upside. The property is restricted to senior tenants (55+). With this well-built and efficiently designed property, an astute investor will capitalize on the strong current and future cash flow.

FOR SALE DETAILS

PRICE

$11,000,000 USD

PRICE/SF

$180 USD /SF

# OF UNITS

111

PRICE/UNIT

$99,099

CAP RATE

8%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pacific Pointe Senior Living

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1974

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.07 AC

LAND SF

46,609 SF

ZONING

R4

APN/PARCEL ID

566-190-02

ASK ABOUT THIS PROPERTY

Mike BiddickCushman & WakefieldMore Info
858-245-5848

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Mike BiddickCushman & WakefieldMore Info
858-245-5848

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.